Keep the Engine Running: Where We Are Heading
Friday, July 12, 2024
On the blog, Harnett County Economic Development Director Stephen Barrington explains that while neighboring counties have experienced significant nonresidential growth, Harnett County has lagged behind. However, change is on the horizon.
Understanding the Competitive Landscape
From elected officials to residents through public comments, we have heard that nonresidential growth is occurring all around Harnett County, but not in Harnett County. Nash, Wilson, Johnston, Lee, and Chatham counties have and continue to experience new nonresidential growth, and specifically manufacturing successes that yield good tax revenue, and even more importantly to residents, quality jobs at above average wages for their communities.
The question has been posed: Why not Harnett?
The answer is not profound or complicated. Simply put, Harnett County had not positioned itself to compete. How does a community get in the game? They have ready product - buildings and sites - through which they are able to compete for projects. Notice we did not say, “available buildings and sites” but, ready buildings and sites. Read more about product development in this blog.
The good news is that the game does not stop. A community can join and stay in the game as long as they wish, or step away if they choose.
The even better news is that Harnett County made a critical decision in Fiscal Year 2024 to partner with the I-95/I-40 Crossroads of America Alliance (Alliance) to acquire land for a Class A industrial park, and SAMET, a developer builder, will construct our community’s first Class A industrial buildings.
We believe this particular initiative - an investment by Harnett County and its partners - will serve as the catalyst that not only gets Harnett County in the game but positions it as a key player. Further, we believe our entry into the game will spur private sector developers and investors to play alongside us.
Product Development Initiatives in FY 2025
In Fiscal Year 2025 (July 1, 2024 – June 30, 2025), we anticipate the closing of land that Harnett County and the Alliance will acquire, and the construction of the first of six planned Class A industrial buildings. The first of which is projected to be approximately 162,000 square feet, subdividable.
While this is taking place in one area of the County, our team will introduce a new program to both Harnett County Government and the Harnett Economic Development Corporation, a 501(c)(3) entity, that will require their support, and is projected to transition available land to that of environmentally vetted sites (site readiness), furthering the marketability of the property.
We anticipate that at least one private sector developer of manufacturing and or distribution buildings, other than SAMET, will close on a site this year.
Lastly, our budget will enable us to engage in marketing and business development competitively, matching the efforts of neighboring communities frequently celebrated for their successes.
Here is what we know:
- If one does not know that Harnett County exists, they are not going to invest their business here;
- If they are aware of Harnett County's existence but are unaware of our community's assets, beginning with our workforce, and they are unaware of the kind of product that we have available, they are unlikely to invest their business here; and
- If we do not make it easy for businesses to operate in our community, they are unlikely to invest here.
Therefore, continuous marketing and business development efforts will ensure that when companies are ready to invest in an expansion or relocation, Harnett County is on their radar.
Looking Ahead: Ten Years Down the Road
Although we aren't fortune tellers, we can observe what successful communities - those consistently attracting new companies - have done to prepare for their achievements. Harnett County is engaging in the early activities that are required to be successful.
While development activities and new company wins may not seem to come fast enough, if we follow proven processes, and have patience to allow activities to occur, Harnett County will see unprecedented industrial growth over the next decade. Furthermore, the market will present more opportunities in professional/business services and retail sectors alike.
We have the ability to witness a prosperous decade for our county, and an unprecedented decade. This is just the beginning.